CELENT RESEARCH PREDICTING 60% GLOBAL ADOPTION OF IFX BY 2009 NOW AVAILABLE FROM IFX FORUM WEB SITE
IFX Adoption Trends, Benefits, and Implementation Examples Included
WAKEFIELD, Mass. - Jan. 30, 2007 - A research report entitled "The IFX Standard: Global Adoption Is Only a Matter of Time," published by analyst firm Celent, is now available for download at no charge from the Interactive Financial eXchange (IFX) Forum Web site, www.ifxforum.org. The IFX Forum is a not-for-profit standards organization working to develop a robust framework for the electronic business-to-business exchange of data among financial service institutions around the world. Celent is a research and consulting firm focused on the application of information technology in the global financial services industry, www.celent.com.
The IFX specification enables financial transactions through Web Services-type interfaces, providing the ability to exchange financial data regardless of technology platform. According to the report's authors, Isabella Fonseca and Neil Katkov, the standard is well-positioned to become widely used within the financial services industry in a relatively short time: by 2009.
The report examines the potential of IFX to enhance interoperability between systems, lower development costs, increase the speed to market of new products and services, and reduce the burden of maintaining numerous systems and hardware. Banks have been evaluating when to adopt this technology.
Said Richard Urban, IFX Forum President: "We are hopeful that the wide availability of the information and professional observations in the Celent report will help to speed adoption of IFX in the industry worldwide, and we are very grateful to Celent for the permission to distribute this material."
The 28-page report provides an overview of the IFX standard, its potential benefits in the financial services industry, and the drivers and barriers to adoption. The report, including a number of tables and figures, also surveys IFX adoption trends in North America, Europe, and the Asia Pacific region, and presents implementation examples from each of these geographical areas.
About the IFX Forum
Membership in the IFX Forum is open to anyone interested in contributing to the development of open financial standards that harness the power of XML. The IFX Forum is currently organized into the following Working Groups: ATM/POS; Branch Banking Services; Business Banking; Electronic Bill Presentment & Payment; and Web Services. IFX Forum Working Groups, in concert with an Architecture Committee to coordinate their efforts, develop open Internet-compatible messages for all sectors of the financial services industry. To learn more about IFX Forum standards or the benefits of IFX Forum membership, please visit www.ifxforum.org.
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